Stack of cash

The Lewisville ISD Board of Trustees on Monday approved its tax rate and budget for the 2019-20 fiscal year.

The maintenance and operations (M&O) portion of the tax rate will be $0.97 per $100 valuation, which is a 7-cent reduction from the current year’s rate and is a result of requirements set forth by House Bill 3, which was passed this year by the Texas Legislature. The debt service, or interest and sinking (I&S) rate will remain the same at $0.3675 per $100 for a total tax rate of $1.3375 per $100 valuation.

Though the rate decreases from this year’s, residents could still see a higher tax bill because of increased property values.

The board also approved the general fund, debt service and food service budgets.

The general fund budget includes a $14.2 million deficit. Revenues are projected at $489.5 million, and expenditures are projected at $504.2 million. Property tax revenue increased by approximately $7.8 million, but state revenue decreased by approximately $10.4 million.

Expenditures in the general fund increased from last year by approximately $5.7 million. Recapture payments to the state ended at $18.6 million, which is a decrease from $34.5 million from last year. The decrease is also a result of HB 3.

The budget also includes salary increases for teachers, which was mandated by HB 3.

As approved by the board in July, classroom teachers with zero to five years experience will receive a 2.5-percent increase from the salary midpoint, teachers with six to 15 years experience will receive 2.75 percent, and teachers with 16-plus years of experience will receive 3.5 percent.

Instructional aides with zero to five years experience in LISD will receive a 3-percent increase, followed by 3.5 percent for instructional aides with six-plus years experience.

There will be a raise of 2.5 percent for all other employees and 2 percent for administration.

The board approved a first-year teacher salary of $54,500, a bump from $53,750.

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